FINANCIAL NEWS

Saudi controls USD751b in fiscal cover

10 Aug 2015

(MENAFN) Saudi Arabia has more than USD751 billion in petrodollar assets, which allow it to handle its fiscal deficit for a few years, however, these assets could be a burden if oil prices remain low in the long-run.

The amounts include USD416 billion in government deposits with the Saudi Monetary Agency (Sama), the Gulf’s central bank, while the rest in assets controlled by government income and investment funds.

Citing official data, the 2015 Saudi budget projects expenditures are around USD229.3 billion and revenues are USD190.7 billion. The resulting deficit of USD38.6 billion represents 5 percent of 2015 GDP.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more